Tangerine Bank and Visa Canada Team Up to Introduce New Visa* Debit Later this fall

As the first exclusively digital bank to offer Visa Debit, Tangerine invites Chequing Clients to enter for a chance to win one of five prizes of $10,000 by opting in to upgrade their Client Card with Visa Debit

TORONTO, Sept.14, 2020 /CNW/ - Beginning later this fall, Tangerine Bank is giving Chequing Clients a new, convenient and secure way to pay with Visa* Debit, which will be available in two Card designs for Clients to choose from. Utilizing Visa's scale and global acceptance footprint, Tangerine Bank is the first exclusively digital bank in Canada to offer Visa Debit.

As an enhancement to the Tangerine Chequing Account, Tangerine Chequing Clients will be able to pay for online and international purchases where Visa Debit is accepted directly with money from their Chequing Account. This will give Clients more control over their spending – from shopping at their favourite online stores to online subscriptions and recurring bill payments – and added security features like Visa Zero Liability1 protection. In addition to these added benefits, Clients will continue to enjoy the great features and security of their Tangerine Chequing Account.

"We take pride in listening to our Clients, and this is something they've told us they want, so we're thrilled to bring it to them with some fun twists, like the option to choose between two Card designs," said Tangerine President & CEO Gillian Riley. "This new offering will allow our Clients to get more from debit – enhancing our already great Chequing Account with new features that bring them more value, added convenience and security when making online purchases or paying bills."

Visa Debit is accepted at more than 1.5 million online merchants in Canada and at more than 55 million international retailers, a vast network that will be available to Tangerine Chequing Clients beginning this fall.2 Plus, Tangerine Chequing Clients will also be able to use Visa Debit for in-app purchases and for popular rideshare and food delivery apps. For added peace of mind, online and international purchases Tangerine Clients make using Visa Debit will be processed over Visa's network. This provides the protection of Visa's multiple layers of security, helping to reduce risk through continuous fraud monitoring and Visa Secure technology, in addition to Tangerine's existing robust security measures.

"We are very pleased to work with Tangerine Bank to offer their Clients more choice, flexibility and security through access to Visa's leading debit capabilities," said Stacey Madge, President & Country Manager, Visa Canada. "As one of Canada's leading digital banks, Tangerine will bring Visa Debit to even more Canadians looking for new ways to shop online."

To add to the excitement of the upcoming Tangerine Visa Debit launch, Tangerine Bank is offering Chequing Clients a chance to win one of five prizes of $10,000, starting today. All they need to do is opt in for a free upgraded Tangerine Client Card with Visa Debit before October 13, 2020 and choose their preferred Card design. Not a Tangerine Chequing Client yet? No problem – sign up for a Tangerine Chequing Account here and once your Account is set up, you'll be eligible to enter. Full contest entry details, including Contest Rules and alternate entry methods are available here. Entrants can expect to receive their upgraded Client Card in the mail within a few weeks after the launch later this fall.

Here's what Tangerine Chequing Clients can enjoy with the introduction of Visa Debit later this fall:

  • A Tangerine Bank exclusive: Added Client personalization with the choice of two card designs – a bold matte orange or a sleek grey, both with vertical designs and finished with metallic logos – making Tangerine the first Visa Debit issuer in Canada to offer card design options**.
  • Control in your hand: Like any debit card, Visa Debit only uses money from your Chequing Account, but gives you more freedom to safely shop online and internationally everywhere Visa is accepted.
  • Shop online with confidence: With Visa Zero Liability1, you don't pay for unauthorized purchases. This is in addition to Tangerine's existing robust security measures. More information can be found at tangerine.ca/security. Plus, using a Card is safer than having cash in hand, because we can replace your Card, but you can't replace your cash!
  • Make online purchases with ease: Visa Debit lets you shop at your favourite online stores with more than 1.5 million online merchants that accept Visa in Canada.2
  • Borderless payments: Use Visa debit to shop internationally – make online purchases from more than 55 million international retailers or in-store at thousands of retailers that accept Visa.
  • Easy bill payments: Use Visa Debit to make recurring bill payments online and in person, all directly from your Tangerine Chequing Account.
  • Continued benefits: In addition to the added benefits of Visa Debit, Clients will continue to enjoy no fees for daily transactions, free Interac e-Transfer®, free access to more than 3,500 Scotiabank ABMs in Canada and other great features of the Tangerine Chequing Account.

The latest information about Tangerine's launch of Visa Debit later this fall can be found here.

About Tangerine Bank

Tangerine Bank is a digital bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and close to $40 billion in total assets, it's one of Canada's leading digital banks. Tangerine Bank offers banking that's flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. From Savings Accounts to no-fee daily Chequing, Credit Cards, GICs, RSPs, TFSAs, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. With over 1,000 employees in Canada, the bank's presence spans its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012 Tangerine was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.

About Visa Inc. 

Visa Inc. (NYSE: V) is a world leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. Our relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit visa.causa.visa.com/visa-everywhere/blog.html and @VisaCA

Stuff the Tangerine Lawyers Make Us Say:

Based on existing Visa Debit issuers as of August 31 2020. A digital or direct bank is a bank without a branch network that offers everyday banking products and services through remote channels and without physical branches to process transactions.



** Based on existing Visa Debit issuers as of August 31 2020.



‡ Note: a Foreign Currency Conversion Fee may apply.



† No deposit or Account opening necessary to enter. Contest runs from September 14, 2020 at 2:01 am (ET) to October 13, 2020 at 11:59 pm (ET).  Five winners will receive a $10,000 cash deposit prizes (total approximate value of all prizes is $50,000). Must have an eligible Tangerine Chequing Account to be awarded a prize. Limit 1 prize per entrant. Odds of winning depend on total number of eligible entries received. Open to Canadian residents who have reached the age of majority at time of entry. Skill-testing question required. Some conditions apply. See full Official Rules for complete details here.



1 Visa's Zero Liability Policy is not applicable to anonymous Visa Prepaid, Corporate and Commercial cards, or any transactions not processed by Visa. Requires keeping account and PIN safe.  Other conditions and restrictions apply.  For details, refer to your issuer cardholder documentation.



2 Calculated by including all unique merchant IDs that processed at least one transaction on VisaNet in the last 12 months. As of August 2020.



*Trademark of Visa International Service Association and used under license.



Tangerine is a registered trademark of The Bank of Nova Scotia, used under license. Forward Banking is a registered trademark of Tangerine Bank.



Scotiabank is a registered trademark of The Bank of Nova Scotia.



Interac and Interac Flash are registered trademarks of Interac Corp., used under license.

 

SOURCE Tangerine

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